Italian financial regulator CONSOB just released a new blacklist of all the binary option brokers that are not authorized to operate in Italy. In this report, the Italian Watchdog specifically warned investors against binary options broker OptionCM, a new member of the list that recently tries to recruit Italian investor via a mass email marketing campaign. Hosted under the URL www.optioncm.com, the broker was identified as a company that is not authorized to provide online trading services in Italy by the CONSOB.
Back in August, the Italian regulator CONSOB already warned retail investors against five different brokers that were targeting Italian traders without the necessary trading licenses. Financial Binary, BinaryFX, PRIME FMS, BNR Markets and Angels Investor were all added to the Italian regulator blacklist. In late December, it added another name to this list: OpitonCM. The CONSOB recently started to follow into the footsteps of the French financial watchdog AMF that has been publishing binary options broker blacklist for some years. These blacklists identify and list the suspicious brokers in Europe, those that are not regulated or not authorized to provide their services to European investors. The AMF binary options broker blacklist is the most complete one but other European regulator are increasingly active in hunting scam brokers. Make sure to check these different blacklists if you ever have a doubt about a broker that tries to contact you or offer you a special promotion.
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OptionCM is not regulated – Avoit it
The CONSOB warning against OptionCM has been issued after the regulator discovered that its parent company DGX SYSTEM Ltd is not authorized to provide trading services in the Italian jurisdiction. On its website, OptionCM claims to provide increased secured money management and AML procedures yet the firm does not disclose to be compliant with any of the European financial regulators. After further investigation on the CySEC registers, we can affirm that OptionCM and its parent company DGX SYSTEM Ltd are not regulated in Europe. We thus strongly recommend you to avoid dealing with this Option CM. Being not compliant with any financial regulator in Europe, there exists absolutely no guarantee that you will be able to withdraw the funds you deposited to OptionCM.
Stick to our list of recommended brokers
If you are searching for a reliable alternative to trade binary options, we can only recommend you to have a look at our different rankings of the best regulated binary option brokers in Europe. They are all authorized to operate in Europe and in the United Kingdom by the FCA. We tested all these brokers to ensure that they will be able to provide you with the most competitive and safe trading conditions.
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